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IMF report hails India's digital infrastructure as a model for other nations to follow

The IMF applauds India's digital infrastructure and highlights a building block approach and innovation-fostering practices as a model for other nations experiencing a digital transformation.

Edited By: India TV Business Desk New Delhi Published on: April 07, 2023 14:28 IST
digital payment, india digital payments, IMF
Image Source : PIXABAY The IMF report points out that the COVID-19 vaccine distribution platform, CoWIN, as well as other DPIs in education and health, have adopted India's guiding principles

The International Monetary Fund (IMF), in its working paper, has said  that India's creation of a world-class digital public infrastructure serves as an example for other countries going through digital transformation.

The report "Stacking Up the Advantages: Lessons from India's Digital Journey (DPI)" stated that the success of India's digital public infrastructure is attributed to the country's building block strategy and emphasis on fostering innovation.

The building block method entails determining a minimum common core to address a group of issues. This strategy offers resources for developing specialized solutions in a diverse nation like India.

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To foster a thriving ecosystem, the IMF report emphasizes the necessity of compatibility across various DPIs and competition-focused design. With the use of open standards, India stack's functionality is made available to everyone and supports interoperability.

The IMF report points out that the COVID-19 vaccine distribution platform, CoWIN, as well as other DPIs in education and health, have adopted India's guiding principles. With the use of a digital backbone, India was able to grow its vaccination program swiftly and overcome obstacles like extensive internal mobility. To support their COVID-19 vaccination campaigns, CoWIN's technology has also been used in Indonesia, Philippines, Sri Lanka, and Jamaica.

It is also emphasized that India recognizes the use of information technology (IT) in creating the identification layer, highlighting the introduction of the Aadhar card.

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In the report, it is emphasized that India's digital building block strategy encourages innovation since it enables each building block to handle a number of issues. India Stack's design promotes competition and breaks down silos, avoiding current bottlenecks and established interests.

The IMF's senior resident representative to India, Luis E. Breuer, complimented India's digital public infrastructure in a tweet and said that it was improving people's lives. The study's findings suggest that other countries undertaking digital transformation can learn from India's experience.

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